ENTREPRENEURSHIP

Detailed explanation-1: -Economic growth is driven by innovation and technological improvements, which reduce the costs of production and enable higher output.

Detailed explanation-2: -New ideas and technologies are developed and applied, generating greater output with the same input. More goods and services are produced, stimulating wages and business profitability. Innovation and productivity growth bring vast benefits for consumers and businesses.

Detailed explanation-3: -India is moving towards an innovation-led economy, because inventions bring new concepts and technologies, and produce more important outputs with the same input. This results in better-made goods and services, boosting earnings and business profitability.

Detailed explanation-4: -Strive for constant improvement – Innovation is about constantly improving and looking for ways to do things better both as an individual and as an organization. You need to make small, continuous improvements to succeed in the long run and often the biggest innovations result from those smaller innovations.

Detailed explanation-5: -Innovation grows your business. Business growth means, ultimately, increasing your profits. Innovation helps you stay ahead of the competition. Innovation helps you take advantage of new technologies. 02-Sept-2021